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17 Part 1 of 2 6.52 points Required information Great Adventures Problem AP6-1 The following information applies to the questions displayed below.) Now that operations for outdoor clinics and TEAM events are running smoothly, Suzie thinks of another area for business expansion. She notices that a few clinic participants wear multiuse MU) watches. Beyond the normal timekeeping features of most watches, MU watches are able to report temperature, altitude and barometric pressure, MU watches are waterproof, so moisture from Kayaking, rain, fishing, or even diving up to 100 feet won't damage them. Suzie decides to have MU watches available for sale at the start of each clinic. The following transactions relate to purchases and sales of watches during the second half of 2022. All watches are sold for $508 each. Jul. 17 Purchased 58 watches for $9,164 $158 per watch) on account. Jul. 1 sold 48 watches for $24,384 cash. Aug. 12 Purchased 48 watches for $8,064 $168 per watch) cash. Aug. 22 Sold 38 watches for $19,304 on account Sep. 19 Paid tor watches purchased on July 17. Sep. 27 Receive cash of $13,800 for watches sold on ccount on August Oct. 27 Purchased a watches for $15,664 (5178 per watch) cash. Nov. 20 fold 98 watches for 549,784 cash. Dec. Purchased 116 watches for $21,809 ($188 per watch on account. Dec. sold 48 watches for $24,384 on account. eBook Print 0 References Great Adventures Problem APG-1 Part 1 Required: 1-a. Calculate sales revenue, cost of goods sold, and ending inventory as of December 31, 2022, assuming Suzie uses FIFO to account for Inventory Sales Revenue Cost of Goode sold Ending Inventory $ 5 $ 117.856 57 270 14.664 1.6. Prepare the gross profit section of a partial income statement for transactions related to MU watches. GREAT ADVENTURES, INC Partial Income Statement For the Year Ended December 31, 2022 Sales Revenue Cost of Goods Sold 117.856 Gross profit

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